The actions of Tesla and Ford to reduce consumer costs for electric vehicles (EVs) were influenced by new federal subsidies starting this year, as part of President Biden’s Inflation Reduction Act. Both companies aim to allow buyers to fully benefit from tax credits of up to $7,500. However, this move has raised concerns among investors who fear that the price cuts, in combination with the influx of new EV models later this year, could lead to a decrease in prices and negatively impact profitability. Contrarily, GM CEO Mary Barra and Volkswagen CEO Oliver Blume stated that they will not be … Continue reading Price Wars Looming: Tesla, Ford Reduce EV Prices Amid Subsidy Changes